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Harnessing Digital Transformation in Financial Services
2025-04-29 12:29:09
Banking
Finance
Technology

Harnessing Digital Transformation in Financial Services

The banking and financial services sector is undergoing a significant digital transformation, fueled by advancements in cloud computing, artificial intelligence, and mobile technology. Major players such as IBM, Capgemini, and Google Cloud are leading this evolution, projecting market growth from $140 billion in 2024 to $380 billion by 2032. Retail banks are becoming more confident in their digital initiatives, recognizing customer experience as crucial for success.

However, outdated legacy systems pose substantial challenges. The Banking as a Service market is also poised for growth, driven by mobile payments and partnerships with fintech companies, despite facing regulatory and cybersecurity hurdles.

Moreover, the personal finance software market is expanding, as digital tools enhance financial management for consumers. With North America at the forefront, the Asia-Pacific region is emerging rapidly, highlighting a global trend towards embracing technology in finance.

As the industry adapts, the integration of innovative solutions will be key in shaping its future.

The press radar on this topic:

openpr
28. April 2025 um 13:08

Digital Transformation in Banking and Financial Services Market to Witness Stunning Growth Utilizing Google Cloud, Cognizant, TCS

Digital transformation in banking and financial services, led by IBM, Capgemini, Infosys, Cognizant, TCS, Oracle, SAP, Microsoft, Google Cloud, Salesforce, DXC Technology, FIS, Temenos, Fiserv, Intellect Design Arena, Backbase, Appway, nCino, and Avaloq, is driving the $140B 2024 market to $380B by 2032 at 15.19% CAGR through cloud, AI, mobile, blockchain, and RPA. North America dominates, while Asia-Pacific is the fastest-growing region.
finews.ch: Treffpunkt der Finanzwelt
29. April 2025 um 12:06

Retail Banks Become More Confident Due to Digital Transformation

Retail banks are showing more optimism regarding digital transformation, especially through the use of artificial intelligence (AI). According to a survey by Publicis Sapient, 80 percent of executives consider the customer experience to be a central business metric. While the integration of AI into core functions is seen as a transformative force, outdated technologies and legacy systems pose a major challenge. 70 percent of executives report that these systems hinder digital offerings. Additi..
openpr
29. April 2025 um 05:32

Banking as a Service Market to Reach USD 16.9 Billion by 2032, Growing at a CAGR of 18.8% (2025-2032) | Persistence Market Research

The BaaS market is driven by financial inclusion, mobile payments, and partnerships between banks and fintech companies. Key opportunities include embedded finance solutions and advancements in blockchain technology. Regulatory uncertainty and cybersecurity concerns are challenges, but the market is expected to grow rapidly, especially in Asia-Pacific, with cloud-based platforms, core banking, and payment services as key segments.
openpr
29. April 2025 um 07:32

How Is the Global Personal Finance Software Market Expected to Grow by 2033 in Terms of Size, Share, and Revenue?

The global personal finance software market, valued at USD 1.3 billion in 2024, is projected to grow to USD 2.0 billion by 2033 with a CAGR of 4.55%. Driving this growth are digitalization, financial literacy, and online banking adoption. IoT and mobile-based financial tools enhance personal budget management. Web-based software dominates due to security and tracking, while mobile apps grow due to accessibility. Individual consumers drive demand, seeking financial independence, especially in N..
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